UK watch sales were up 8.92% year on year in March in terms of value with leather strap watches and the lower end of the market delivering the strongest growth.
According to data compiled by retail analyst GfK it was watches with leather straps that delivered the highest year-on-year growth, up 15.48%, while watches priced between £100 and £500 came in second with growth of 14.95% on the same month in 2012. Luxury watches also performed well with sales up 13.32%.
Sales of watches priced at less than £100 dropped 4.3% while the mid market continued to take a hit with watches priced at between £500 and £1,000 fell 3.29%.
Gents’ watches outperformed ladies’ in March. Sales of men’s watches were up 12.78% while ladies’ watch sales grew 4.03% year on year.
Both unisex and children’s watches were down on 2012 levels. Sales of unisex watches dropped 12.3% while children’s watch sales dipped 1.47%.
While leather strap watches delivered the highest year-on-year growth, metal bracelet watches were not far behind with sales growth of 11.97%. Sales of ceramic watches continued to decline, down 24.28% in March.
This data was originally published in the May 2013 issue of WatchPro magazine. To view a digital version of this issue click here.